New York State Common Retirement Fund Decreases Holdings in Kraft Heinz Company $KHC

New York State Common Retirement Fund reduced its holdings in Kraft Heinz by 52.2% in Q2. Analysts have lowered target prices for Kraft Heinz, with a consensus rating of "Reduce." The stock opened at $25.03, with a market cap of $29.63 billion. Kraft Heinz reported $0.72 EPS and $6.39 billion revenue last quarter. The dividend is set at $0.40 per share, yielding 6.4%.

New York State Common Retirement Fund reduced its position in Kraft Heinz Company (NASDAQ:KHC - Free Report) by 52.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 521,300 shares of the company's stock after selling 568,963 shares during the period. New York State Common Retirement Fund's holdings in Kraft Heinz were worth $13,460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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A number of other large investors have also made changes to their positions in the company. Banque Transatlantique SA bought a new stake in Kraft Heinz during the first quarter valued at approximately $40,000. Mid American Wealth Advisory Group Inc. bought a new position in Kraft Heinz in the second quarter worth approximately $39,000. Hilltop National Bank purchased a new position in shares of Kraft Heinz during the 2nd quarter worth $41,000. MV Capital Management Inc. grew its position in shares of Kraft Heinz by 300.7% during the 2nd quarter. MV Capital Management Inc. now owns 1,735 shares of the company's stock valued at $45,000 after acquiring an additional 1,302 shares during the period. Finally, Pinney & Scofield Inc. increased its stake in shares of Kraft Heinz by 48.2% in the 2nd quarter. Pinney & Scofield Inc. now owns 1,851 shares of the company's stock worth $48,000 after purchasing an additional 602 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors.

Kraft Heinz Stock Up 0.3%

KHC opened at $25.03 on Thursday. The company has a market capitalization of $29.63 billion, a PE ratio of -6.71 and a beta of 0.09. The firm has a 50-day simple moving average of $25.16 and a two-hundred day simple moving average of $26.33. The company has a quick ratio of 0.73, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. Kraft Heinz Company has a 52 week low of $23.70 and a 52 week high of $33.35.

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Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its quarterly earnings results on Friday, July 8th. The company reported $0.72 earnings per share for the quarter. The business had revenue of $6.39 billion during the quarter. Kraft Heinz had a positive return on equity of 7.26% and a negative net margin of 17.35%. Analysts forecast that Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, November 28th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, November 28th. This represents a $1.60 annualized dividend and a yield of 6.4%. Kraft Heinz's dividend payout ratio (DPR) is -42.90%.

Wall Street Analyst Weigh In

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Several equities analysts recently weighed in on KHC shares. The Goldman Sachs Group lowered their target price on Kraft Heinz from $30.00 to $27.00 in a research report on Thursday, October 30th. Jefferies Financial Group decreased their price objective on Kraft Heinz from $28.00 to $24.00 and set a "hold" rating on the stock in a research note on Wednesday, October 15th. Barclays cut their price objective on Kraft Heinz from $26.00 to $24.00 and set an "equal weight" rating for the company in a research note on Thursday, October 30th. HSBC reduced their target price on shares of Kraft Heinz from $29.00 to $27.00 in a report on Thursday, October 30th. Finally, Morgan Stanley lowered their price target on shares of Kraft Heinz from $28.00 to $27.00 and set an "equal weight" rating on the stock in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Kraft Heinz presently has a consensus rating of "Reduce" and a consensus target price of $26.58.

Read Our Latest Stock Analysis on Kraft Heinz

Kraft Heinz Company Profile

(Free Report)

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands.

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